The Russia Environment. Essay

2953 words - 12 pages

IntroductionOver the past year the subject of WTO accession has become one of the hottest foreign policy issues in Russia. It is clear from Russia's long history, the size of its internal market, and its importance in the shaping of world politics that the process of Russian economic reform will have wide-ranging political and social implications.Now Russia is going to become one of the members of the World Trade Organization (WTO). It not only gives lots of advantages to the Russian company, but also some negative problem. After joining the WTO, there will be lots of foreign investment in Russia. Whether it's environment suitable for foreign investors? In this article, I will analyse the economic, political and culture environment in Russia.Economic environmentRussia has made great progress in achieving macro-economic stabilisation and is currently pursuing a successful transition to a market economy.IncomeThrough out twenty years of development, the Russian income level has increased constantly. We can conclude this by the GDP and GNP. .Over the last few years, the annual Gross Domestic Product (GDP) growth 6% in Russia.Moreover, we can see at the figure of Gross National Product (GNP), which was 8,660 US dollars, rank 79 in the world. Here, we should notice that in 2001 the GDP went up 5.1 percent, which is one of the best figures in the world. Furthermore, Russia's GDP grew 4.2% 2002 and GNP grew by approximately 4% in the first half of 2002. Rapid Russian real GDP and GNP growth both has benefited from rapid rise of net exports and domestic demand.On the other hand, according to a forecast released by the Russian Economic Development and Trade Ministry, growth of real incomes reduced the share of the population below the subsistence level to 33% in 2002, and this figure is extremely high by international standards. In 2002, the number of citizens with income below the subsistence level was registered at 27 percent, and this figures expected to go down to 26 percent in 2003, 25 percent in 2004 and 24percent in 2005. Generally, that means Russian has high level of purchasing power.InflationInflation in Russia was 15.1% in 2002. Inflation rates have stabilised by compared 19%in 2000 and 19.4%in 2001. Consumer price rises have settled near annual 15%, while composite producer prices are rising even more slowly. Stabilisation of inflation rates followed stability of money supply. According to the Central Bank, monetary policy will be tightened at the end of the year to prevent a seasonal jump in monetary base and to minimize monetary factors of inflation.InfrastructureOne of the troubles with Russian infrastructure is the deficient in of long-term financing. For example, Russian oil is more expensive because lack of transportation infrastructure: pipelines, port facilities, and so on. All the issues that have taken place by now have been by major oil companies. Also, important questions remain about the nature of the Russian infrastructure market...

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